Prime Minister KP Sharma Oli highlighted seven indicators of the budget implementation and their status.

Addressing the House on Sunday after the commencement of winter session of the federal parliament, Oli outlined the indicators including revenue collection and financial situation, capital expenditure, economic growth, trade deficit, balance of payment, implementation of flagship programme and employment and progress made in implementation of national pride projects.

Here are the major points underlined by Oli:

• The revenue collection in the first five months of current fiscal has increased by 32 percent compared to the same period last year.
• Capital expenditure in the first five months increased by 25.33 percent while government expenditure has been reduced to 14 percent from 34 percent last year.
• Inflation rate reduced to 3.7 percent from 4.2 percent last year.
• Foreign aid increased by 162.72 percent compared to last year. The total pledged foreign aid and loan stands at Rs 112.13 billion.
• The economic growth rate for this year has been forecast at around eight percent.
• Nepal increased its exports in the first five months of this fiscal year by 12.3 percent. The government has decided to grant five percent concession on 15 exportable items and three percent on 11 exportable items to promote export.
• Works at National Pride Project Gautam Buddha Airport in Lumbini has been expedited with target of test flight by June 2019. Meanwhile, apron and runway construction of Pokhara Airport will be completed by next six months.
• Works on Upper TamakoshiHydropower Project are being carried out so as to begin test production by August 2019.
• The Detailed Project Report on EastWest Railway has been completed and resources are being arranged for the construction of railway in Kakadvitta-Butwal section.

Energy

• Oli said that since the formation of this government, electricity meter has been installed in 30,000 consumers’ houses and the electricity theft has been reduced by 3 percent.
• On clean energy, biogas plant has been installed in 10,561 households; 80,990 solar plants and 40,362 improved stoves have been installed.
• On the initiative of Nepal government, India amended its energy trade directives facilitating Nepal to sell surplus electricity to third countries via India.
• Agreement was forged between Nepal and Bangladesh government on electricity trade.
• Government is working on a war footing to finish the laying of petroleum pipeline between Nepal and India before deadline.

Railway

• The prefeasibility study on KerungKathmandu railway has been completed and works are underway for preparation of Detailed Project Report.
• Preparations are underway for prefeasibility study of KathmanduPokhara-Lumbini railway with Chinese assistance.
• Agreement has been signed to prepare Detailed Project Report for RaksaulKathmandu railway with Indian assistance.
• Preparations for establishing Nepal Sheep Office and appointing Sheep Registrar are underway.

Likewise, Oli recalled the historic transit and transportation treaty forged with China in 2016 during his previous stint as the Prime Minister, according to which China has agreed to allow its four seaports and two dry ports to Nepal for third country trade.

Hailing the government decision to end the syndicate in public transportation sector, PM said a Public Transportation Authority will be formed to manage the post-syndicate turmoilin transportation system.

PM also lauded his administration’s measures to control crime, saying that Police Administration has achieved 96 percent success in curbing crimes. He denounced the public protest against the rape and murder of Nirmala Pant and similar other issues,saying that it is not the “indecent and anarchic” crowd that provide justice to the victims but the government.

PM defends President

PM KP Oli said that it was unnecessary to drag Sheetal Niwas (president’s official residence) into controversy for the decisions made by government. “It is the government that makes all decisions regarding Sheetal Niwas,” said the PM, “It pointless to create a hue and cry over the government decision that was made for preserving the dignity of the institution.”

The PM said the president doesn’t speak in a parliamentary system. “What was the logic behind attacking the institution that doesn’t decide on its own?” said the PM, saying that attacking a president in a republic setup amounts to attacking the republic system itself.